Market Minute: S&P Bullishness from 2 Investment Banks; Lululemon Recall

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Produced by Drew Trachtenberg

Two of the most important investment companies on Wall Street have turned more bullish on the market. Goldman Sachs (GS) expects the S&P index to hit 1625 this year, and Morgan Stanley (MS) raised its target to 1600. Both had been pretty bearish on the market. The S&P closed yesterday at 1552.
outside Morgan Stanley headquarters in New York, U.S., on Wednesday, June 18, 2008. Morgan Stanley, the second-biggest U.S. securities firm, said profit dropped 57 percent, in line with analysts' estimates, as the firm suffered declines in trading and investment banking. Photographer: Daniel Acker/Bloomberg News
Daniel Acker/Bloomberg News


Lululemon (LULU) is set to drop after recalling some of its popular workout pants because the material is too sheer, making them a bit too transparent. The recall could cut revenue growth by three to five percent.

There's been widespread speculation lately that Apple (AAPL) may soon declare a big boost to its dividend. Now Moody's reports that the company's cash horde could hit $170 billion by the end of the year -- up $35 billion from the end of 2012. It was one year ago today that Apple announced its first-ever dividend payment.

Discover Financial (DFS) received another boost from prominent banking analyst Meredith Whitney. She told CNBC that the stock should grow by at least 30 percent this year.

Video game maker Electronic Arts (EA) says its CEO is resigning as of the end of March. That overshadowed word that the company's earnings this quarter could fall short of expectations, despite the release of two high-profile sequels.

The Washington Post (WPO) says it will start charging readers to view online content. It's one of the last major American newspapers to do so. The New York Times (NYT) set up a similar pay-wall about two years ago, and it now has 600-thousand subscribers.


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